Rupee Returns to Winning Ways Against US Dollar, Other Currencies

The Pakistani rupee (PKR) came back stronger against the US Dollar today after opening trade at 278 in the interbank market. It was stable all day and closed in green against the greenback. Meanwhile, it posted encouraging gains against all of the other major currencies during today’s session. The interbank rate stayed at 278/$ most of the day before closing at the same level. Open market rates across multiple currency counters were strictly at 278 today. The PKR appreciated by 0.04 percent and closed at 278.4 after gaining 10 paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.03 percent. Overall, the rupee is down nearly Rs. 51.05 since January 2023. Since April 2022, it is down Rs. 95.05 against the greenback. As per the exchange rate movements seen during the session, the PKR gained 10 paisas today. The PKR was green against all of the other major currencies in the interbank market today. It gained two paisas against the Saudi Riyal (SAR), two paisas against the UAE Dirham (AED), 12 paisas against the Australian Dollar (AUD), 48 paisas against the British Pound (GBP), and 58 paisas against the Euro (EUR). Meanwhile, it gained 17 paisas against the Canadian Dollar (CAD) in today’s interbank currency market.